BIS Working Papers

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179: An empirical evaluation of structural credit risk models

Nikola Tarashev

178: Research on exchange rates and monetary policy: an overview

Jeffery Amato, Andrew Filardo, Gabriele Galati, Goetz von Peter and Feng Zhu

177: Forbearance and prompt corrective action

Ilhyock Shim and Narayana Kocherlakota

176: Debt-deflation: concepts and a stylised model

Goetz von Peter

175: Commercial property prices and bank performance

E Davis and Zhu Haibin

174: How does fiscal policy affect monetary policy in emerging market countries?

Edda Zoli

173: Measuring default risk premia from default swap rates and EDFs

Antje Berndt, Rohan Douglas, Darrell Duffie, Mark Ferguson and David Schranz

172: The effectiveness of foreign exchange intervention in emerging market countries: evidence from the Czech koruna

Gabriele Galati and Piti Disyatat

171: The role of the natural rate of interest in monetary policy

Jeffery Amato

170: A model of the IMF as a coinsurance arrangement

Ralph Chami, Sunil Sharma and Ilhyock Shim

169: Current account adjustment and capital flows

Gabriele Galati and Guy Debelle

168: Inflation targeting, asset prices and financial imbalances: conceptualizing the debate

Piti Disyatat

167: Asset prices and banking distress: a macroeconomic approach

Goetz von Peter

166: Are speculative attacks triggered by sunspots? A new test

Nikola Tarashev

165: Stress-testing financial systems: an overview of current methodologies

Marco Sorge

164: Did investors regard real estate as 'safe' during the 'Japanese Bubble' in the 1980s?

Serdat Dinc and Patrick McGuire

163: CDO rating methodology: Some thoughts on model risk and its implications

Ingo Fender and John Kiff

162: Recent fiscal policy in selected industrial countries

David Lebow

161: The monetisation of Japan's government debt

David Lebow

160: An empirical comparison of credit spreads between the bond market and the credit default swap market

Zhu Haibin

159: The term structure of credit spreads in project finance

Marco Sorge and Blaise Gadanecz

158: Market distress and vanishing liquidity: anatomy and policy options

Claudio Borio

157: Securing sustainable price stability: should credit come back from the wilderness?

Claudio Borio and Philip Lowe

156: Deposit Insurance and Bank Intermediation in the Long Run

Robert Cull, Lemma Senbet and Marco Sorge

155: Monetary policy and asset price bubbles: calibrating the monetary policy trade-offs

Andrew Filardo

154: Monetary and real shocks, the business cycle and the value of the euro

Renato Filosa

153: Macroeconomic implications of rising household debt

Guy Debelle

152: Back to the future? Assessing the deflation record

Andrew Filardo and Claudio Borio

151: Bank ties and bond market access: evidence on investment-cash flow sensitivity in Japan

Patrick McGuire

150: Bank lending and commercial property cycles: some cross-country evidence

E Davis and Zhu Haibin

149: Monetary policy rules in emerging market economies: issues and evidence

Madhusudan Mohanty and Marc Klau

148: The 2001 US recession: what did recession prediction models tell us?

Andrew Filardo

147: Whither monetary and financial stability? the implications of evolving policy regimes

William White and Claudio Borio

146: Consumer credit scoring: do situational circumstances matter?

Robert Avery, Paul Calem and Glenn Canner

145: Are changes in financial structure extending safety nets?

William White

144: Transparency versus constructive ambiguity in foreign exchange intervention

Priscilla Chiu

143: The Balassa-Samuelson effect in central Europe: a disaggregated analysis

Dubravko Mihaljek and Marc Klau

142: Three episodes of financial fragility in Norway since the 1890s

Karsten Gerdrup

141: Financial strains and the zero lower bound: the Japanese experience

Mitsuhiro Fukao

140: Asset prices, financial imbalances and monetary policy: are inflation targets enough?

Charles Bean

139: External constraints on monetary policy and the financial accelerator

Mark Gertler, Simon Gilchrist and Fabio Natalucci

138: Public and private information in monetary policy models

Hyun Song Shin and Jeffery Amato

137: The Great Depression as a credit boom gone wrong

Barry Eichengreen and Kris Mitchener

136: The price level, relative prices and economic stability: aspects of the interwar debate

David Laidler

135: Currency Crises and the Informational Role of Interest Rates

Nikola Tarashev

134: The cost of barriers to entry: evidence from the market for corporate euro bond underwriting

Joao Santos and Kostas Tsatsaronis

133: How good is the BankScope database? A cross-validation exercise with correction factors for market concentration measures

Kaushik Bhattacharya

132: Developing country economic structure and the pricing of syndicated credits

Yener Altunbas and Blaise Gadanecz

131: Optimal supervisory policies and depositor-preference laws

Henri Pagès and Joao Santos

130: Living with flexible exchange rates: issues and recent experience in inflation targeting emerging market economies

Corrinne Ho and Robert McCauley